OT: Chris Webber part of group to buy Atlanta Hawks

Submitted by Vengeful Barbarian on

Adrian Wojnarowski reports that Chris Webber is part of group insteresting in buying the Atlanta Hawks.

Five-time NBA All-Star Chris Webber is part of a potential ownership group that has submitted a letter of interest to the NBA about its desire to purchase the Atlanta Hawks, league sources told Yahoo Sports.

Webber would have a modest financial investment in the partnership, but is expected to emerge as a face of the bid with an ultimate goal of becoming a prominent figure on the basketball side for the Hawks, league sources told Yahoo Sports.

story here: http://sports.yahoo.com/news/sources--chris-webber-joins-group-interest…

 

At first I was confused as to how Chris webber could afford to buy an NBA team, but luckily I came across this very interesting article from People with Money magazine that broke it all down.

It's been a rough year for the basketball player, but at least he has his millions of dollars to ease the pain. 41-year-old Chris Webber has taken the No. 1 spot on People With Money’s top 10 highest-paid basketball players for 2014 with an estimated $96 million in combined earnings.

and

In 2012 it looked like the basketball player’s spectacular career was winding down. Suddenly, he was back on top. People With Money reports on Wednesday (October 15) that Webber is the highest-paid basketball player in the world, pulling in an astonishing $96 million between September 2013 and September 2014, a nearly $60 million lead over his closest competition.

also

The American basketball player has an estimated net worth of $275 million. He owes his fortune to smart stock investments, substantial property holdings, lucrative endorsement deals with CoverGirl cosmetics. He also owns several restaurants (the “Fat Webber Burger” chain) in Washington, a Football Team (the “Detroit Angels”), has launched his own brand of Vodka (Pure Wonderwebber - US), and is tackling the juniors market with a top-selling perfume (With Love from Chris) and a fashion line called “Chris Webber Seduction”.


http://en.mediamass.net/people/chris-webber/highest-paid.html

Yes, Chris Webber is not actually the highest paid basketball player, as that people with money article is satire, but he is actually part of a group trying to buy the Atlanta Hawks. Anyway, it gave me a laugh at least so thought I'd share it.

 

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Alton

October 16th, 2014 at 12:31 PM ^

But isn't there an article every couple of weeks that states "Semi-famous person X is about to become a part-owner of professional sports team Y"? 

Joined: 07/05/2008

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LSAClassOf2000

October 16th, 2014 at 12:34 PM ^

It will be interesting to see who else is part of this group really. I think that Atlanta is probably one of the cheaper teams when it comes to total valuation (my guess based on the rest of the NBA), but we're still talking close to $500 million, I would think. I would be curious to know what the asking price would be definitely. 

Joined: 01/07/2011

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DualThreat

October 16th, 2014 at 12:42 PM ^

My sister is back-door neighbors with Webber (in Tyrone, GA).  He held a BBQ at his house a couple years go and invited the neighborhood.  Sister said it was fun.  Webber gave my sister the stink-eye though when my nephew acted up and she told him he's going into "Time-out".

Alright, last sentence isn't true.  ;-)

Joined: 05/04/2012

MGoPoints: 781

Real Tackles Wear 77

October 16th, 2014 at 2:45 PM ^

After all the focus on athletes who squander their earnings and go broke a couple years after retirement, it's good to see Chris made some good financial decisions and is in position to make a business move like this.

Joined: 07/05/2008

MGoPoints: 9685